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San Diego's Manchester Grand Hyatt Deal with
Sunstone Hotel Investors Goes Sour

By Lori Weisberg, The San Diego Union-Tribune
September 3, 2010

Hotel developer Doug Manchester has failed yet again to strike a deal to sell his majority interest in the Manchester Grand Hyatt, terminating negotiations with his latest suitor, Orange County-based Sunstone Hotel Investors.

In an e-mail sent last week to the San Diego Unified Port District, which is the hotel’s landlord, Manchester’s attorney, Michael Levinson, said Sunstone had made “material changes” to the terms of the proposal and therefore, the “deal has been terminated.”

Manchester had recently sought to broker a deal with Hyatt Hotels to give up his majority interest in exchange for a minority stake in the San Diego high-rise, along with two Hyatt properties in Atlanta and Chicago. That deal as well ultimately fell apart.

Sunstone, a real estate investment trust with interests in 30 hotels nationwide, is best known in San Diego for having walked away from the W Hotel downtown last year after concluding the property was no longer worth the debt it owed.

Manchester Grand Hyatt will not become
a Sunstone-owned hotel


Lori Weisberg, Staff Writer
San Diego Union-Tribune
350 Camino de la Reina
San Diego, CA  92102

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Former Owner of San Diego's W Hotel, Sunstone Hotel Investors, Wants to Acquire Manchester Grand Hyatt / August 2010

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